Costar Group Inc (CSGP): Price Now Near $771.39; Daily Chart Shows Downtrend on 50 Day Basis

The Hourly View for CSGP

Currently, CSGP’s price is up $1.95 (0.25%) from the hour prior. The hourly chart shows that CSGP has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

CSGP’s Technical Outlook on the Daily Chart

At the moment, CSGP’s price is up $8.59 (1.13%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as CSGP has now gone down 8 of the past 10 days. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows CSGP’s price action over the past 90 days.

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The post Costar Group Inc (CSGP): Price Now Near $771.39; Daily Chart Shows Downtrend on 50 Day Basis appeared first on ETF Daily News.